Flex charters LNG quartet to Cheniere

Norway-based shipping firm Flex LNG will charter four vessels to a unit of US exporter Cheniere as part of a deal revealed on Wednesday.

There is an option for a fifth LNG carrier, according to the firm controlled by billionaire John Fredriksen.

Under the agreements, Flex LNG will employ newbuild Flex Vigilant, its thirteenth carrier, which will join Cheniere ex-yard in May 2021.

In addition, Flex LNG will deliver two of its existing carriers to Cheniere during the third quarter of this year, and a third existing LNG carrier during the third quarter of 2022.

Cheniere will have the option to add the fifth LNG carrier from Flex LNG’s existing fleet during the third quarter of 2022.

The firm charter period for each of the four initial LNG carriers is between three and three and a half years, with an option for Cheniere to extend each by up to two additional years.

Flex LNG’s chief Øystein Kalleklev said the agreements secure “attractive employment” for four, possibly five, of the company’s ships with a “first-class” charterer.

“Our large and energy efficient ships are particularly well suited for their long-haul trade and align with Cheniere’s efforts to secure required shipping capacity while improving the environmental performance of their overall fleet,” he said.

“Lastly, these contracts add substantial revenue backlog to our company which is in line with our communicated strategy of securing attractive term-employment for our ships when we think the time is right,” Kalleklev said.

All existing Flex LNG ships have a cargo capacity of about 173,400 to 174,000 cubic meters and feature dual-fuel two-stroke propulsion including MEGI and X-DF.

The time charter deals remain subject to final documentation and certain closing conditions in connection with the delivery and acceptance of the LNG carriers to Cheniere.

- Advertisements -

Most Popular

South Korean yards built 500 LNG carriers for export in 30 years

South Korean yards have completed 500 liquefied natural gas (LNG) tankers for export since 1994, according to the Ministry...

Report: Egypt’s EGAS charters Hoegh LNG’s FSRU

The Egyptian Natural Gas Holding Company (EGAS) has chartered Hoegh LNG's floating storage regasification and storage unit, Hoegh Galleon,...

MARAD: Delfin needs to submit amended application for FLNG project

The US Maritime Administration (MARAD) said that Delfin LNG needs to file an amended application for its floating LNG...

More News Like This

Flex clinches another LNG carrier charter extension

Norwegian shipping firm Flex LNG, the owner of 13 liquefied natural gas carriers, has secured a time charter extension...

Cheniere’s Corpus Christi LNG expansion project almost 53 percent complete

The Stage 3 expansion project at Cheniere's Corpus Christi LNG export plant in Texas is almost 53 percent complete,...

Cheniere in $1.5 billion senior notes offering

US LNG exporting giant Cheniere has priced its $1.5 billion offering of senior notes due 2034. Cheniere said in a...

Dynagas welcomes new LNG tanker in its fleet

Greek LNG shipping firm Dynagas has taken delivery of the 200,000-cbm LNG carrier, Clean Vitality, in South Korea. The firm...